HDFC Bank’s US class action lawsuit over alleged disclosures related to an MSRDC payment will depend on whether the transaction is proven to be an independent sponsorship or a cover-up for additional interest, experts said. Abizer Diwanji argued that older issues are being repeatedly revived without evidence of shareholder fraud, while HP Ranina said the bank’s internal investigation and clean chit could strengthen its defence. The discussion also covered capital raising by mid-sized banks and the outlook for IDBI Bank’s privatisation.
